Trent Ltd posts Q2 net profit of Rs 79 crore
Tata Group-owned Trent Ltd witnessed a marginal decline in its net profit to Rs 78.94 crore ($9.9 million) for the second quarter ended September 2022, as against a net profit of Rs 79.99 crore reported in the year-ago period.
The company’s revenue for the quarter rose to Rs 2,023 crore, as against Rs 1,226 crore reported in the corresponding period of the previous fiscal year.
Commenting on the Q2 results, Noel N Tata, chairman of Trent Limited in a statement said, “Our fashion concepts have once again displayed encouraging growth momentum in Q2FY23. We have been a company that makes strategic bets/ business model choices that in many cases involve standing away from the predominant & proximate market practices of the time. Completely own branded offerings, entirely direct-to-consumer reach, not discounting in season and not advertising are all cases in point.”
“We continue to expand our reach with vigour and reinforce our lifestyle offerings across concepts, categories, and channels. The growing acceptance of our brands demonstrates the attractiveness of our platform and the tremendous potential to address opportunities that lie ahead,” Tata added.
Established in 1998 as part of the Tata Group, Trent Ltd operates Westside, a chain of fashion retail stores, as well as Landmark and Zudio fashion stores.
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